CanDeal

CanDeal is a Canadian online exchange for Canadian dollar debt securities. It provides institutional investors access to liquidity for Canadian Government Bonds and money market instruments. CanDeal has offices in Toronto and Montreal and is owned by Canada's Six Major Banks and TMX Group (equally as of 2018[1] compared to a previous ownership structure in which TMX owned 47%[2]).

For the Brazilian municipality, see Candeal.
CanDeal
TypePrivate
IndustryFinancial
FoundedJune 27,  2001 (2001-June-27)
HeadquartersToronto, Ontario, Canada and Montreal, Quebec, Canada
Key people
Jayson Horner (Co-Founder, President & CEO)
OwnerBank of Montreal
Bank of Nova Scotia
CIBC
National Bank of Canada
Royal Bank of Canada
TMX Group
Toronto-Dominion Bank
Number of employees
17
Websitehttp://www.candeal.ca

CanDeal became a member of the Investment Dealers Association of Canada, and was granted alternative trading system status by the Ontario Securities Commission on July 2, 2002.

History
  • June 27, 2001 – CanDeal is created by founding shareholders BMO Nesbitt Burns, Basis100 inc., CIBC World Markets Inc., MoneyLine Network Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.[3]
  • July 8, 2002 – TMX Group acquires a 40% stake in CanDeal.[4]
  • September 10, 2002 – CanDeal executes its first trade.
  • January 1, 2003 - CanDeal's founder Jayson Horner leaves TD Securities to become full-time President and CEO of CanDeal.
  • February 11, 2003 – CanDeal purchases Basis100's equity interest along with the rights to BasisXchange in Canada.[5]
  • September 9, 2003 – CanDeal adds Provincial Bond issues to its marketplace.
  • August 18, 2004 – Aggregate volume traded on CanDeal surpasses $100 billion.[6]
  • October 19, 2004 – CanDeal announces its single day trading volume surpasses C$1 billion.
  • December 1, 2004 – CanDeal trades $10 billion in a single month.
  • November 1, 2005 – CanDeal launches a new division, Revolution Trading, an electronic inter-dealer trading network.[7]
  • March 24, 2006 - CanDeal acquires Moneyline's shares.[8]
  • October 11, 2006 – CanDeal surpasses One-half Trillion in aggregate volume traded.
  • August 8, 2007 – CanDeal announces that it has surpassed One Trillion Dollars in aggregate volume traded since inception.[9]
  • June 1, 2009 - CanDeal introduces butterfly trading to its marketplace.
  • February 24, 2010 - CanDeal launches mobile fixed income pricing application for institutional professionals.[10]
  • July 7, 2010 - CanDeal Traded Volume Surpass $3 Trillion[11]
  • April 13, 2011 - CanDeal Volumes Surpass $4 Trillion; New Record Month and Quarter Set.[12]

Products

CanDeal provides institutional investors with online access to liquidity for Canadian debt securities as well as access to global marketplaces in the United States and Europe operated by Tradeweb. CanDeal utilizes the "Request for Quote" (RFQ) trading protocol to trade the most active government securities and a commingled "Inventory" based trading protocol for less active money market instruments. CanDeal created a multi-dealer Limit Order protocol for trading fixed income securities.

References
  1. "Six Largest Canadian Banks Increase Stake in CanDeal". 2018-10-30. Retrieved 2019-11-18.
  2. "TMX 2018 Annual Report" (PDF). Retrieved 2019-11-18.
  3. Major Investment Dealers agree to launch First Multi-Dealer electronic trading system in Canada. June 27, 2001
  4. CanDeal gets all clear from Canadian regulators; TMX takes stake. July 9, 2002
  5. "Basis100 Announces Sale of Shares to CanDeal.ca. February 11, 2003". Archived from the original on 2005-05-08. Retrieved 2007-09-17.
  6. CanDeal deals $100 billion. October 10, 2004
  7. Trayport’s GlobalVision platform powers CanDeal’s Revolution Trading network. November 14, 2005
  8. "TSX 2006 Annual Report". Retrieved 2019-11-18.
  9. $1 Trillion Traded On Candeal. August 8, 2007
  10. CanDeal launches mobile fixed income pricing application for institutional professionals. February 24, 2010
  11. CanDeal Traded Volume Surpass $3 Trillion July 7, 2010
  12. CanDeal Volumes Surpass $4 Trillion; New Record Month and Quarter Set April 13, 2011
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